Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Caterpillar Inc. shares valued at $512,720 were sold by Johnson Cheryl H on May 30 ’24. At $340.00 per share, Johnson Cheryl H sold 1,508 shares. The insider’s holdings dropped to 20,023 shares worth approximately $6.51 million following the completion of this transaction.
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Also, Johnson Gerald purchased 100 shares, netting a total of over 35,640 in proceeds. Following the buying of shares at $356.40 each, the insider now holds 2,213 shares.
Before that, De Lange Bob had sold 21,847 shares from its account. In a trade valued at $7,797,194, the Group President traded Caterpillar Inc. shares for $356.90 each. Upon closing the transaction, the insider’s holdings decreased to 21,847 shares, worth approximately $23.12 million.
As published in a research note from TD Cowen on April 26, 2024, Caterpillar Inc. [CAT] has been retained to a Buy and the price target has been revised to $340. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late April. As of March 14, 2024, Truist has initiated its “Buy” rating for CAT. Earlier on February 20, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for CAT stock which previously was a “an Outperform”.
Analyzing CAT Stock Performance
During the last five days, there has been a drop of approximately -0.66%. Over the course of the year, Caterpillar Inc. shares have jumped approximately 9.97%. Shares of the company reached a 52-week high of $382.01 on 04/08/24 and a 52-week low of $276.94 on 01/17/24. A 50-day SMA is recorded $346.32, while a 200-day SMA reached $304.74. Nevertheless, trading volume fell to 3.26 million shares from 3.2 million shares the previous day.
Support And Resistance Levels for Caterpillar Inc. (CAT)
According to the 24-hour chart, there is a support level at 322.23, which, if violated, would cause prices to drop to 319.31. In the upper region, resistance lies at 326.83. The next price resistance is at 328.51. RSI (Relative Strength Index) is 36.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.88, which suggests the price will decrease in the coming days. Percent R is at 67.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
